As the casino industry braces itself for Global Gaming Expo, this could hardly be a worse moment to be hawking slot machines. Not only is it undergoing a painful contraction but new markets (like Boston and Washington, D.C.) are a long way off from opening. As the U.S. casino industry does the unthinkable — remember the days when it was “recession proof”? — and downsizes, that makes for a lot of orphaned slots … 9,675 according to analyst Todd Eilers. Roughly 3,600 of the idled machines can be found in defunct Caesars Entertainment casinos, another 2,200 just in Revel, more still in Biloxi‘s Margaritaville and Atlantic City‘s Trump Plaza. Almost certainly, in the case of Caesars, a significant number of these boxes will find new homes in other casinos, further depressing a Continued >>
Jumping the gun, the Menominee Nation has launched a site for job-seekers at its hoped-for Dairyland Park casino. The landing page promises “Opening Soon Pending Approval.” (Did you notice how they jumped over that pesky construction phase?) The Forest County Potowatomi aren’t amused, withholding $25 million from the state to, in essence, coerce it into nixing the Menominee project.
“It’s not a question of whether we want the casino here or not or whether we want the jobs or not. I want jobs in Kenosha,” said Gov. Scott Walker (R), who continues to study the issue. He ought to like the aggressive job projections being made by the Menominee: Continued >>
That’s the argument being reiterated in New York State, as impoverished cities and their would-be casino saviors fight for over one or (more likely) two casino licenses. Case in point: Newburgh, where Mayor Judy Kennedy (left) has become a media celebrity of sorts in her crusade to bring a casino to town by badmouthing local economic conditions. The New York Times describes Newburgh thusly: Boarded up rowhouses and vacant storefronts line the streets north of City Hall and Broadway, the city’s main thoroughfare. Drug dealers rule some corners. The sound of gunfire occasionally echoes through the streets.
Damn, it makes Las Vegas sound bucolic by comparison.
New York’s casino-licensing process has fallen into Continued >>